Al Madina had a rights issue. I know this because the DFM said the subscription period closed today ...
DFM 07 July 2008:
(ALMADINA) Reminder: Subscription for capital increase of Al Madina for Finance & Investment ends today, 07/07/2008.
Al Madina shares last traded on the DFM on 17 June 2008 so there's not that much interest in them.
The original disclosure was last month, and the subscription period started last month also (which I missed ) ...
DFM 05 June 2008:
(ALMADINA) Al Madina for Finance & Investment: Announces the results of its BOD meeting held on 04/06/2008 including appointment of a board member & the details for its rights issue.
DFM 22 June 2008:
(ALMADINA) Reminder: Subscription for capital increase of Al Madina for Finance & Investment starts today, 22/06/2008
I think the disclosure says the capital increase / rights issue was approved in the EGM on 13 May 2008. Which is also the record date for rights issue eligibility?
Price is 275 Kuwaiti fils (par value 100 fils + premium of 175 fils) per share.
Here's a bit more information...
Bloomberg 05 June 2008:
Al Madina for Finance to Raise $181.8 Million From Share Sale
By Abdulla Fardan
Al Madina for Finance and Investment Co. SAKC (ALMADINA), a Kuwaiti Islamic investment company, will start selling shares to existing shareholders this month as it seeks to raise as much as 48.3 million dinars ($181.8 million).
Al Madina is offering 175.72 million shares to existing investors for 275 fils each between June 22 and July 7, it said in a regulatory filing to the Kuwait Stock Exchange today.
That implies Al Madina will almost double their share capital. There was a 15% share dividend proposed, on top of share capital of KWD 17,422,500 (174,225,000 shares outstanding) at the end of March 2008. So after all that and the rights issue, total share capital should be
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